Question 1
Give examples of needs, wants, and demands that Build-A-Bear customers demonstrate, differentiating each of these three concepts. What are the implications of each on Build-A-Bear’s actions?
It is very important for a company to distinguish between needs, wants, and demands in order to achieve its goals. Maxine Clark has successfully achieved the goals as she is able to differentiate these three concepts. Needs are the states of deprivation where anything that are necessary for human beings yet lacking. We can see that one of the needs in customers is to express themselves to satisfy the individual needs. All the customers are able to create a product through the store from “Choose Me” to “Name Me” that indirectly reflecting the elements of them. Besides, customers have also given us an idea that social needs are important as well. Part of the customers creates the bear as a gift for another person which reflects the caring among them.
Wants are the form human needs take as they are shaped by culture and individual personality. There are a number of outlets for Build-A-Bear store. Customers’ wants may differ from each other where they are affected by the cultural and personality factors. They need belongings. They may have plenty of options yet they want to choose Build-A-Bear store to satisfy their needs. In the same approach, social needs and individual needs may be fulfilled in various ways. Yet, customers choose Build-A-Bear to fulfill them because the company has the strategy of development and implementation. The company uses a very different and unique way to attract customers. The bears they sell unlike the other toys which the outlook is fixed. All the bears that Build-A-Bear’s customers owned are customized. Customers wil ...